operations:

Events Affecting Year $1$:

Provided $$180,000$ of cleaning services on account.

Collected $$135,000$ cash from accounts receivable.

Paid salaries of $$38,000$ for the year.

Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $$2,000.$ The expense was determined using the percent of revenue method.

Required

a$.$ Organize the transaction data in accounts under an accounting equation.

b$.$ Prepare an income statement, a balance sheet, and a statement of cash flows for Year $1.$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Req A$,$Req B$1,$Req $B2,$Req B$3]]$

Organize the transaction data in accounts under an accounting equation.

Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed.

$\backslash$table$[[\backslash$table$[[$HOLMES CLEANING SERVICE$],[$Accounting Equation for Year $1]]],[,,,$Accounting,Ec$,$lation for $Y,],[\backslash$table$[[$Year $1],[$Events$]],$Balance Sheet,Account Titles for Retained Earnings$],[$Assets$,=,\backslash$table$[[$Equity$],[$Retained$],[$Earnings$]]],[$Cash$,\backslash$table$[[+],[+],[+]],\backslash$table$[[$Net Realizable Value of$],[$Accounts Receivable$]],],[1.,,+,,=,,],[2.,,+,$:$.,=,,-],[3.,,+,,=,,],[4.,,+,,=,,],[$Balance$,,+,,=,,]]$

ReE A

Holmes Cleaning Service began operation on January $1,$ Year $1.$ The company expe operations:

Events Affecting Year $1$:

Provided $$180,000$ of cleaning services on account

Collected $$135,000$ cash from accounts receivable.

Paid salaries of $$38,000$ for the year.

Adjusted the accounts to reflect management's expectations that uncollectible a was determined using the percent of revenue method.

Required

a$.$ Organize the transaction data in accounts under an accounting equation.

b$.$ Prepare an income statement, a balance sheet, and a statement of cash flows for

Complete this question by entering your answers in the tabs below.

Req A

Req BY

Req B$2$

Req B$3$

Prepare an income statement for Year $1.$

ReqA

ReqB$2>$

Holmes Cleaning Service began operation on January $1,$ Year $1.$ The company experienced the following events for its first year of operations:

Events Affecting Year $1$:

Provided $$180,000$ of cleaning services on account.

Collected $$135,000$ cash from accounts receivable.

Paid salaries of $$38,000$ for the year.

Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $$2,000.$ The expense was determined using the percent of revenue method.

Required

a$.$ Organize the transaction data in accounts under an accounting equation.

b$.$ Prepare an income statement, a balance sheet, and a statement of cash flows for Year $1.$

Complete this question by entering your answers in the tabs below.

Ret $A$

Req B$1$

Req B$2$

Req B$3$

Organize the transaction data in accounts under an accounting equation.

Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed.

$\backslash$table$[[$HOLMES CLEANING SERVICE$],[\backslash$table$[[$Accounting Equation for Year $1],[$Balance Sheet$]]],[\backslash$table$[[$Year $1],[$Events$]],$Balance Sheet,Account Titles for Retained Earnings$],[$Assets$,\{\{$f$476$b$5$dfc$-8$a$04-4721-$a$4$fd$-2414$a$12$e$9764\}$

$\backslash$table$[[$Equity$],[\backslash$table$[[$Retained$],[$Earnings$]]]]\}],[$Cash$,+,\backslash$table$[[$Net Realizable Value of$],[$Accounts Receivable$]]],[1.,,+,,=,,],[2.,,+,=,=,,],[3.,,+,,=,,],[4.,,+,,=,,],[$Balance$,,+,,=,,]]$